Resident Advisor in Macroprudential Policy (Ulaanbaatar, Mongolia) MCMTA

Work for the IMF. Work for the World.

The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) is looking for an experienced expert to work as resident advisor in Macroprudential Policies at the Bank of Mongolia in Ulaanbaatar, Mongolia

The objective of the technical assistance (TA) project is to support the Bank of Mongolia (BoM) in enhancing its operational framework for macroprudential policy by (i) developing macroprudential policy analysis (including systemic risk identification and assessment, ex-ante and ex-post evaluation of macroprudential policy measures); and (ii) improving the calibration and use of macroprudential policy instruments to mitigate potential threats and vulnerabilities.

Duties and Responsibilities

The resident advisor will provide training and TA to BoM staff to enhance the capacity in implementing effective macroprudential policy. He/she will (i) review the existing operational framework for macroprudential policy framework in Mongolia and identify any gaps that hinder the effective implementation of the macroprudential policy; (ii) advise on the organizational and institutional aspects of macroprudential policymaking to support an effective policy process; (ii) help develop analytical frameworks for macroprudential policy based on international best practices; (iii) develop a strategy for calibrating and using macroprudential tools to contain systemic vulnerabilities; (iv) work towards effective implementation of macroprudential policy tools, in a manner that balances benefits and costs and reduces the scope for circumvention; (v) develop necessary procedure manuals, regulations, guidance notes, and material; and (vi) organize, conduct, and facilitate workshops and/or seminars on relevant topics for the TA program. The advisor’s workplan and deliverables will be discussed and agreed between the BoM, the MCM back-stoppers, and the advisor at the start of the assignment. In performing his/her duties, the resident advisor will:

Ensure the assistance provided is consistent with the Fund policies on the subject.

Observe the policies and procedures of the IMF, exercising the utmost discretion regarding all matters of official business.

Report regularly on progress achieved to the management of BoM.

Make regular email and video/phone contacts with IMF headquarters (MCM TA project manager and/or backstopper) on questions and actions of substantive importance to the implementation of the project.

Produce periodic reports for IMF HQ highlighting how the work contributes to the implementation of the project’s outcomes and milestones.

Maintain electronic files of all written memoranda, proposals, training materials, mission reports, and other documents using the IMF’s electronic data management system and make the files available to relevant MCM staff.

Coordinate with IMF HQ on the complementary activities that are needed for the resident advisor to achieve results and increase the effect of TA.

Communicate closely with the IMF Resident Representative in Ulaanbaatar, Mongolia.

Coordinate activities, where appropriate, with other donors and international organizations, experts, and advisors appointed by other donors and international organizations.

Engage with relevant stakeholders, including the Ministry of Finance, Financial Regulatory Commission, Deposit Insurance Corporation, whenever necessary

Qualifications

The selected individual should have at least seven (7) years of experience working in a central bank on the operational implementation of systemic financial risk analysis. Managerial experience and experience in delivering technical assistance would be an advantage. Excellent command of English (oral and written) is a requirement.

The selected individual would initially be hired for one (1) year (contractual appointment), with possible extension for up to three (3) years.

The IMF is committed to achieving a diverse staff, including gender, nationality, culture, and educational background.

Department:

MCMTA Monetary and Capital Markets Dept. Technical Assistance StrategyHiring For:

A11, A12, A13, A14The IMF is committed to achieving a diverse staff, including age, creed, culture, disability, educational background, ethnicity, gender, gender expression, nationality, race, religion and beliefs, and sexual orientation.